Pinnacle West Capital : Increases Quarterly Dividend

Third-Quarter Earnings Conference Call Scheduled for November 3

PHOENIX--(BUSINESS WIRE)-- Pinnacle West Capital Corporation's (NYSE: PNW) Board of Directors voted today to raise the Company's dividend by 4.8 percent, or 12 cents per common share annually. This action will result in an indicated annual dividend of $2.62 per share - or $0.655 per share quarterly. The declared dividend is payable December 1, 2016, to shareholders of record on November 1, 2016.

Earnings Release, Webcast and Conference Call

In addition, as previously announced, Pinnacle West plans to release its 2016 third-quarter financial results before the U.S. financial markets open on Thursday, November 3, 2016.

That same day at 12 noon (ET), the Company also will host a live webcast of management's conference call to discuss the Company's results, as well as recent developments. A replay of the webcast can be accessed at pinnaclewest.com/presentations. To access the live conference call by telephone, dial (877) 407-8035 or (201) 689-8035 for international callers. A replay of the call also will be available until 11:59 p.m. (ET), Thursday, November 10, 2016, by calling (877) 660-6853 in the U.S. and Canada or (201) 612-7415 internationally and entering conference ID number 10086.

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $15 billion, about 6,200 megawatts of generating capacity and 6,400 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the Company provides retail electricity service to nearly 1.2 million Arizona homes and businesses. For more information about Pinnacle West, visit the Company's website at pinnaclewest.com.

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Source: Pinnacle West Capital Corp.